Why rigging of the bank bill swap rate hurts everyone
- Written by The Conversation
Former ANZ chief Mike Smith remains as a 'non-executive advisor' to the bank's board.Sam Cardwell/AAPANZ Bank’s alleged manipulation of the bank bill swap reference rate (BBSW) is Australia’s version of the LIBOR debacle.
The workings of BBSW, like LIBOR, make for a very complex story. BBSW is similar to LIBOR (London Interbank Offer...
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